Turns out, Vitalik knows most ICO projects are bullshit, as I hope you guys do.
financemagnates.com
I have two questions about the article:
1. He says people are pretending he's involved in their ICOs when he's not. Who is he talking about?
2. Someone said in a different thread about this article that he recently said Ethereum should be at $15 instead of $300. I couldn't find the quote. Source?
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twitter.com
twitter.com
>1. He says people are pretending he's involved in their ICOs when he's not. Who is he talking about?
OMISE GO
I KNEW THOSE MOTHRFUCKERS
IJTIEQAJFARAARAEFD
good vitalkik know the true valuation of his coin
Thank you based Poverty Skeleton.
Why do people have an issue with investing in bullshit even when they know itll make them a profit?
Why the fuck are you guys choosing morals over profit?
Holy fuck I love his shirt.
It seems he is actually advising Omise Go and Kyber: twitter.com
Apparently, it's companies that TenX he's complaining about.
Just pulling the pin on the grenade before it ends up in an FUD article
>some programmer is suddenly an economics expert
uhhh ok
>He says people are pretending he's involved in their ICOs when he's not. Who is he talking about?
Lmao that screams OmiseGo
That guy isnt asian
Our leader is so humble
just bought another eth!!
If a legit semi moon company was on the ethreum blockchain would that make ETH inherently more valuable?
(((vitalik buterin)))
literally jews win a gain
Of course
Something people don't gno is that he is also advicing cloudwith.me
He seems like a cool and geniue guy
go to bed vitalik, you drunk.
ODN doesn't coe under this guys, it's the best way better than IOC. Get in the ICO or be a cuck.
lots of ICO's were listing Mr.Skelly as an Advisor when in fact he had nothing to do with the ICO.
And if there is any potential in blockchain technology at all then ETH should be prices way above $15.
From what I understand Ethereum is at the forefront of a technology that is at THE forefront of technology.
This probably isn't the place to ask but I'm still curious what the applications of a blockchain could have beyond just an alternative to cash.
he's just autistic
Do you think that might have to do with Kyber?
kyber smells like bullshit to me
he's most likely right, I didn't do the math but if you consider coins prices, gas, wei and all the stuff whose names I don't even know, if you wanna do an operation on the blockchain it will cost a certain amount of money. If the coin price, transactions and mining have certain parameters it won't really be advantageous to do it in the blockchain, people won't look for the coin and the price will drop. It should reach an equilibrium when the price is around the price is costs without the blockchain, possibly a bit higher because decentralization may be considered an advantage.
Everyone buys coins because they expect price to go up in good projects but that's completely irrelevant since you aren't getting equity for a company that will making profit. You're getting a token that will have an intrinsic economic value based on what it does. Why would people pay a premium if they can usually get the services off the blockchain way cheaper (I know there are projects that promise to be cheaper but that's impossible since the miners need to be rewarded well so the value of the coins, and therefore the service, has to increase for the fees and rewards). The only worthy projects are things like bitcoin who don't really promise anything, people know they're buying something that allows transfer of wealth, and while it isn't wildly disseminated, it's value will continue to increase
> It should reach an equilibrium when the price is around the price is costs without the blockchain,
You could easily do this by doing something similar to a stock split.
Investors are rewarded for taking on risk and helping fund projects that otherwise wouldn't exist. Like it or not, they're a wonderfully necessary part of any functioning economic system.
Kyber is bullshit.
This is totally not the same since once the ICO money gets spent there will be no motivation for the developers to keep working on the project, since owning tokens won't give you profit and the developer aren't making any profit anyway. Once the hype is over and everyone realises no one is actually using these things and coins are just sitting in wallets the price of ethereum for example, should decline to the hypothetical $15 and every other coin will follow the same route
I'm not saying anything about ICO money. I'm not sure you're undertanding me.
Imagine I make user-coin. It is used to pay miners for validating transactions on a blockchain which stores posts that other anons think are worth saving. (don't worry if the idea is retarded, the underlying concept is all that matters). These posts can then only be viewed by paying a fee.
Ok, a few developers decide to create user-coin, but they don't have the funds to do it. So they do an ICO where each coin costs $1 at a market cap of $10m.
After two years, the project is wildly successful and each coin is worth $1000 (market cap $10b). Well obviously, no one would pay $1000 to see your shitpost. So, instead you charge $.00001 user-coin ($.10). Or you could do what I was saying above and do something similar to a stock spilt.
You could do this by means of a hard fork or simply by leaving provisions in the code to the change the total supply. So if there are 10m coins each costing $1000 and you want each coin to cost $.10 you just distribute 10,000x that amount of coins to all token holders.
That way market cap stays the same, all token holders still hold the same relative value, and you can use denominations that make psychological sense to users.
Anyway, the point is if its a utility token its price and its actually being used it can definitely go up.
Vitalik is actually advising Kyber. I don't know about OmiseGo but I know Kyber is one of the very few projects that Vitalik is ok with being listed as an advisor on the team page.
No.
twitter.com
>Once an ICO is over devs have no motivation to continue working on a project
If you could have four million dollars or four hundred million dollars which would you choose? There's plenty of ICO dev teams that work hard on a project well after the ICO occurs.